Beijing, PRC—December 29, 2020—Asia Clean Capital (“ACC”) announced that it has begun commercial operations of a 5.5MW distributed solar project in Wuxi with Daming Group, a well-known comprehensive steel fabrication enterprise and one of the top 500 manufacturers in China.

Under the terms of the Agreement ACC invested 100 percent of the system cost and undertook the design, construction, and long-term system maintenance. Electricity from the solar system will be provided to Daming at competitive rates to ensure operational savings throughout the lifetime of the system.

The 5.5 megawatt solar system will also assist in achieving sustainability goals. Over its lifetime, the system will save approximately 103,758 tons of CO2, or the equivalent of 45.1 million liters of gasoline. In addition to monetary savings, the environmental benefits are significant, helping Daming Group achieve its corporate social responsibility goals.

Thomas Lapham, CEO of Asia Clean Capital, said, “ACC is excited to begin cooperation with Daming on distributed solar. Daming is a leading public company in steel processing and manufacturing in China. We look forward to working together on more renewable projects.”

About Asia Clean Capital

Asia Clean Capital Ltd. (“ACC”) is a leading clean energy solutions developer that serves large multinational and domestic firms throughout China. Focused on rooftop solar projects, ACC invests 100 percent of the project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems. All electricity produced is then provided to clients at agreed rates lower than when purchased from the local power grid. Typical project sites are large production facilities with electric demand of between one to twenty megawatts. The company has offices in Hong Kong and Beijing.